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MIRA INFORM REPORT
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Report No. : |
509145 |
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Report Date : |
16.05.2018 |
IDENTIFICATION DETAILS
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Name : |
MARTEX FIBER INTERNATIONAL S DE RL DE CV |
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Registered Office : |
Km 2.5 Carretera A Puerto Cortes Choloma Cortes |
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Country : |
Honduras |
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Date of Incorporation : |
11.03.2003 |
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Legal Form : |
Limited Liability Partnership of Variable Capital |
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Line of Business : |
Recycling and trade of textile waste. It
also provides collection of textile waste. |
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No. of Employees : |
237 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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Honduras |
B2 |
B2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
HONDURAS - ECONOMIC OVERVIEW
Honduras, the second poorest country in Central America, suffers from extraordinarily unequal distribution of income, as well as high underemployment. While historically dependent on the export of bananas and coffee, Honduras has diversified its export base to include apparel and automobile wire harnessing.
Honduras’s economy depends heavily on US trade and remittances. The US-Central America-Dominican Republic Free Trade Agreement came into force in 2006 and has helped foster foreign direct investment, but physical and political insecurity, as well as crime and perceptions of corruption, may deter potential investors; about 15% of foreign direct investment is from US firms.
The economy registered modest economic growth of 3.1%-4.0% from 2010 to 2017, insufficient to improve living standards for the nearly 65% of the population in poverty. In 2017, Honduras faced rising public debt, but its economy has performed better than expected due to low oil prices and improved investor confidence. Honduras signed a three-year standby arrangement with the IMF in December 2014, aimed at easing Honduras’s poor fiscal position.
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Source
: CIA |
COMPANY
NAME and ADDRESS
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COMPANY NAME |
MARTEX FIBER INTERNATIONAL S DE RL DE CV |
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TAX ID.
TYPE |
RTN |
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TAX ID.
NUMBER |
05019002072470 |
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CURRENT STATUS |
Active |
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MAIN ADDRESS |
Km 2.5 Carretera A Puerto Cortes |
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CITY/PROVINCE/STATE |
Choloma Cortes |
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PHONE NUMBER(S) |
(504) 2565.2910 |
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EMAIL |
asarmientos@masterfiber.com |
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WEBSITE |
http://www.martexfiberinternational.com |
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REMARKS ON IDENTIFICATION |
This report was requested as MARTEX
FIBER INTERNATIONAL and with address: Km 2.5 Carretera a Pto Cortes Contiguo
a Industrias Cornoa. Be advised that the correct data is indicated above. |
CREDIT
OPINION
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Industrial company with more than 15
years in market deemed to be operating normally. It has large experience it
is field which gives it soundness in its operations. |
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PAYMENT RECORDS |
No Complaints |
LEGAL
INFORMATION
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TYPE OF COMPANY |
Limited Liability Partnership of
Variable Capital |
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INCORPORATION DATE |
11/03/2003 |
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TERM |
Unlimited |
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INITIAL CAPITAL |
Lps. 10,000.00 |
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PAID UP CAPITAL |
Lps. 10,000.00 |
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LAST CAPITAL INCREASE |
No increase |
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LISTED AT STOCK EXCHANGE |
No |
BACKGROUND.-
In 2013, MARTEX FIBER SOUTHERN CORP.
acquired the firm BOLLAG INTERNACIONAL CORP, which was founded in Switzerland
in 1933, including the premises in Honduras which opened in 2003.
LEGAL ASPECTS.-
The incorporation date is referential,
since the information was not provided directly by the subject.
It was not possible to obtain directly
from the subject the respective registry information, as well as the notary
name who registered subject.
RELATED COMPANIES
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COMPANY NAME |
TAX ID.
NUMBER |
COUNTRY |
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MARTEX FIBER SOUTHERN CORP. |
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MARTEX FIBER INTERNATIONAL NICARAGUA |
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NICARAGUA |
BOARD OF DIRECTORS, SENIOR EXECUTIVES AND SHAREHOLDERS
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NAME |
JOB TITLE |
STAKE |
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LISTER, STEVE |
Executive President |
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JARRETT, JIMMY |
President |
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KENNEDY, DAVID |
Executive Dir. of Finances |
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SARMIENTOS, ARACELY |
Gral. Manager |
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PINEA, DUBLIN |
Accountant |
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OPERATIONS
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SECTOR |
E- Water supply, drainage of the wastewater,
waste and decontamination management, |
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ACTIVITY |
Recycling and trade of textile waste |
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ISIC CATEGORY |
38- Waste collection, treatment and
disposal, recovery of materials |
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ISIC CLASS |
3830- Recovery of materials |
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MAIN ACTIVITY |
Recycling and trade of textile waste. It
also provides collection of textile waste. |
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% SALES IN CASH |
30% |
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% SALES ON CREDIT |
70% (terms at 60-90 days) |
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% TERRITORY OF SALES |
10% domestic market |
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% FOREIGN SALES |
90% |
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% DOMESTIC PURCHASES |
80% |
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% FOREIGN PURCHASES |
20% |
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N. OF EMPLOYEES |
237 |
LOCATION.-
TAX DOMICILE, ADMINISTRATIVE OFFICES,
PRODUCTION PLANT, WAREHOUSE: Located at caption address in an industrial zone of the city with easy access.
COMMENTS AS TO OPERATIONS.-
CORPORATE PURPOSE: Purchase all kind of
textile waste, entire recycling and trade of said recycled fibers.
Sales are 100% directly.
Main clients are textile companies.
No foreign trade information was found.
FINANCIAL
INFORMATION
We had an interview with Miss Dublin Pinea
(Accountant) who kindly provided partial data on the company except for
financials on grounds of confidentiality.
No financial figures were found through
external sources.
FIXED ASSETS.-
Plant, building, vehicles, machinery,
equipment, office equipment, tools, etc.
INSURANCE.-
It holds an all risk insurance policy
(company name, coverage amount and maturity date were not supplied).
PAYMENTS
REFERENCES
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SUPPLIER |
LOCAL /DOMESTIC |
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START OF THE BUSINESS |
Many years ago |
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CREDIT LIMIT |
No credit limits |
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CREDIT TERMS |
25 days |
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PRODUCTS/SERVICES |
Maritime transport |
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RATING COMMENTS |
PROMPT |
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COMMENTS |
Payments through bank deposits Supplier: HAMBURG SUD HONDURAS S.A. |
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SUPPLIER |
LOCAL /DOMESTIC |
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START OF THE BUSINESS |
November 2005 |
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CREDIT LIMIT |
US$20,000.00 |
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CREDIT TERMS |
30 days |
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PRODUCTS/SERVICES |
Nail, tie wire |
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RATING COMMENTS |
PROMPT |
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COMMENTS |
Payments through checks Supplier: “INTREFICA”
INDUSTRIA DE TREFILADO DE CENTROAMERICA |
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LOCAL SUPPLIERS |
Phone Number |
Contact Name |
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“INTREFICA”
INDUSTRIA DE TREFILADO DE CENTROAMERICA HAMBURG SUD HONDURAS S.A.
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(504) 2782.0565 (504) 2556.5440 |
Felix Matamarros Johana Caballero |
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FOREIGN SUPPLIERS |
Country |
Phone Number |
Contact Name |
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HANESBRANDS DOS
RIOS TEXTILES INC. |
Dominican Rep. |
(1 809) 832.7600 |
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COMMENTS OF SUPPLIERS.-
Others suppliers consulted do not provide commercial
information regarding clients on grounds of confidentiality.
BANKS
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Bank
Name |
Country |
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BANCO DEL PAÍS SA |
Dominican Rep. |
BANK
REFERENCES
Bank
details can only be obtained if the same company provides them or authorizes banks
to do that, so the banking system is governed by the principle of banking
secrecy and all banks are obliged to not disclose information about customers.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 67.53 |
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1 |
INR 91.49 |
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Euro |
1 |
INR 80.53 |
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HNL |
1 |
INR 2.83 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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PRI |
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Report Prepared
by : |
TRU |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
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Company
background and operations size
·
Promoters
/ Management background
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Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.